In some cases, tripartite agreements may cover the owner of the land, the architect or architect and the contractor. These agreements are in essence “not a fault” of agreements in which all parties agree to correct their errors or negligences and not to make other parties liable for unfaithful omissions or errors. To avoid errors and delays, they often contain a detailed quality plan and determine when and where regular meetings will take place between the parties. The tripartite agreement should represent the developer or seller by indicating that the property has a clear title. In addition, it should also be noted that the developer has not entered into a new agreement for sale ownership with another party. For example, the Maharashtra Ownership of Flats Act of 1963 requires full disclosure of all relevant information regarding the property acquired from the seller/developer to the buyer. The tripartite agreement should also include the developer`s commitments to build the building in accordance with approved plans and specifications approved by the local authority. Tripartite agreements should include information on real estate and contain an appendix to all initial ownership documents. Notwithstanding agreements 6, 7 and 8, this tripartite agreement between THE CLIENT, the contractor and the bank is automatically terminated by the transmission of a written notification to the Bank if the contracts are not renewed or terminated. This tripartite contract automatically ends at the end of the deadline (6).
Tripartite agreements should contain object information and contain an appendix to all initial ownership documents. In addition, tripartite agreements must be labelled accordingly, depending on the state in which the property is located. The Bank is not responsible (a) for the application of credits deducted from the COMPTE, or b) for determining whether a person has the right to obtain funds ordered or funds requested by the contractor. Provided the bank exercises due diligence after receiving written instructions from the Bank from the duly accredited client or contractor, the bank acts in this regard and is not liable to any party or third party for any action taken or not in accordance with these written instructions, including, but not limited to, instructions in the form of electronic transmission, file, mail or any other electronic instruction or transaction, including the automated registration of the clearing house, or the breach of a warranty or guarantee by the client or the contractor. These written instructions or instructions that the Bank receives from the Director, the Financial Strategies and Evaluation Department, the CLIENT or the Duly Accredited Bank Representative may, as these are the bank`s rights, obligations and obligations, be considered duly issued and submitted by the CLIENT to the bank.